PRIMARY PRODUCERS.

Manawatu Standard, Volume LIII, Issue 312, 30 November 1933, Page 4

PRIMARY PRODUCERS.

RECOVERY HINDERED. UNSTABLE OVERSEAS CONDITIONS. In his review of the year 1932-33 at the annual general meeting of the New Zealand Farmers’ Co-op. Distributing Cow., Ltd., yesterday, at Masterton, Mr T. Currie, chairman of directors, said the period under review was one which had again been characterised by extremely disappointing returns to the nrimary producer—the third of a succession of unprofitable ‘ seasons. The continued expansion of production throughout most ,of the world had forced goods on to unstable markets, where consumption had been limited, credit restricted, and tariff barriers obstructive. The failure of the World Economic Conference to create an improved understanding regarding international financial obligations, and to establish a basis for the solution of the burden of reparations and war debts, had tin. doubtedly hindered progress towards recovery. The continuance of such unsettled conditions in the great markets of the world was reflected in our position to-day, for this Dominion had to look to the overseas markets for its revenue, and it was upon the measure of the returns received for primary products that prosperity depended. Legislation introduced by the Government to reduce interest and rents had materially assisted the man on the land, continued Mr Currie, whilst the exemption from sales tax of most farming requirements had avoided to a certain extent what would otherwise entail an increase iri the cost of production, for the farmer could rarely pass on such increases to the consumer. Primary producers welcomed the signs of recovery which were slowlv becoming evident, but they realised that prudence and hard work would have to dominate all farming activities for some time yet.